27 February 2012

MEXICO : Pemex Takes A Go-Slow Approach On Massive Shale Oil Deposits.


    The USA says Mexico may have the world's 4th largest deposits of shale oil/gas...near its northern border.
    But so far...state oil company Pemex has done little to exploit it.
    There are several reasons for the delays.
    Pemex lacks funds as it finally expands its Gulf explorations, the world price of nat gas is at historic lows...and perhaps...most importantly...water is scarce in the Coahuila shale nat gas region...and critical in the 'hydraulic fracking' process.